Fed Focusing on Home Fix
May 7, 2007,
Fixing Macy's home department constitutes one of this year's top priorities, Federated Department Stores chairman and ceo Terry Lundgren told analysts at the company's recent investor meeting.
While Federated's decision last year to convert Field's to the Macy's nameplate sparked controversy in Chicagoland, that change is not to blame for the lackluster performance, Lundgren said. "It's apparent customers don't yet feel they know Macy's well enough," he said, adding Macy's will aggressively reach out to consumers and store associates to "talk them through all this."
Vice chair Janet Grove told analysts the Martha Stewart Collection in home "is really going to be a wow" when it rolls out to all Macy's doors this fall. She also announced the coming debut of another new brand in home: Haven, an "eco-chic" collection that will include bedding, bath, home fragrance, utility, and loungewear. The collection will be introduced during the current year, Grove said.
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